Companies such as Gap, McDonald's and FedEx are objecting to a proposed revamp of the lease-accounting standard. Hundreds of opponents have sent letters to the Financial Accounting Standards Board and the International Accounting Standards Board calling the change complicated and burdensome. Equipment Leasing and Finance Association also opposes the proposal, partly because the standard setters "didn't do enough cost-benefit analysis," Chief Operating Officer Ralph Petta said. Petta predicts that this latest round of comment letters will spur changes but that the proposal will not be dismissed.
Published in Brief: